Ethereum Price Downside Eases: Is Momentum Shifting?

Sep 4, 2024 04:00 am Cryptocurrency 82

Ethereum price dived below the $2,420 and $2,400 support levels. ETH tested $2,300 and is now showing signs of a decent recovery wave.

Ethereum is attempting a recovery wave from the $2,300 zone.

The price is trading below $2,500 and the 100-hourly Simple Moving Average.

There is a key bearish trend line forming with resistance at $2,440 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $2,500 resistance to start a steady increase in the near term.

Ethereum Price Dips Again

Ethereum price extended losses below the $2,420 level. ETH even traded below the $2,400 support before the bulls appeared. A low was formed at $2,308 and the price is now attempting a recovery wave like Bitcoin.

There was a move above the $2,320 and $2,350 resistance levels. The price climbed above the 23.6% Fib retracement level ..

Support the originator by clicking the read the rest link below.